His stake-building in other listed retailers, sometimes through complex financial derivatives‎, has also caused consternation in their boardrooms. Currently GAME shares are trading at 26.5p, having peaked earlier this morning at 28p.

Ashley is the founder of Sports Direct

The response to this profit warning was another drop in share price value to 20p, which is pretty bleak, considering that when GAME was actually floated on the stock market three years ago it was nearly 200p per share.

The games retailer is also investing in eSports which are increasingly popular across the world.

Game added that it was also focused on cost reduction programmes and "significant efforts to reduce fixed and variable costs across the group's United Kingdom retail footprint, where we have over 220 lease events to manage by the end of 2018".

Sports Direct has yet to comment on the Game Digital stake.

In a statement on the London Stock Exchange, Game Digital said it was pleased that its strategic value has been recognised by Sports Direct.

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